CYBER1 Q3 2021 : CYBER1 Reports Third Successive Profitable Quarter

Group Performance
• Q3 Group revenue increased year over year by 67% (€3.7m), from €5.6m in Q3 2020 to €9.3m in Q3 of 2021.
• Q3 2021 Group EBITDA profit of €290k, compared to a loss of €-1.5m in Q3 of 2020.
• Cyber1 Group recorded year to date EBITDA profit of €671k, compared to a loss of €-3.49m in the same period last year. This change has been a result of increased revenue growth, in conjunction with the streamlining of operating expenditure, implemented at the start of 2021 by the CYBER1 Executives and Board of Directors.
• Operating Expenditure for Q3 2021 has been reduced €1.3m compared to Q3 2020, a reduction of 35.1%. These efficiencies primarily at the parent company level have improved overall cashflow for the underlying companies, enabling investment into revenue generating initiatives such as the launch of the CYBER1 Managed Services offering.
• As travel restrictions have begun to slowly reduce during the quarter, CYBER1 has been able to resume travelling to meet its strategic clients and vendors, solidifying the pipeline generation for the end of Q4 2021, whilst building the foundations for a strong outlook for 2022.
 
Beyond the Quarter & Other News
CYBER1 announced on the 25th of August the launch of its Managed Security offering, through the opening of its Secure Operating Centre. CYBER1 is taking the next step with the launch of SOC as a cloud service. In addition to gathering mod-ern technology solutions, such as machine learning, from all conceivable suppliers under one umbrella, a modern CYBER1 SOC as a service provides benefits such as increased automation, faster action in security incidents, fewer false alarms, increased transparency in both policy and specific security solutions and support for security experts with the aim of helping the experts to perform even better work, not to replace them.
 
CYBER1’s new SOC services include:
• Tools for dealing with security incidents, vulnerabilities, investigating threats and for more detailed analysis and investigations (so-called forensics).
• Formulate security policies and processes for implementing them.
• Management of logs.
• Monitoring and alarms.
• Access to external information about security threats.
• Assessment of cyber security and monitoring of availability of IT resources.
 
Following the launch of the SOC services, the Company has collaborated with a national lottery and business partner Nexlot, based in Peru. This initial partnership enables CYBER1 to demonstrate value across the organization’s security infrastructure, providing an opportunity for other solutions and services that further remediate against a number of vulnerable endpoints. In addition, CYBER1 is now also delivering these services in existing markets, through our trusted and established business units in these regions.
 
Commenting on the Q3 2021, Group President and Executive Director Robert Brown commented:
 
“I am delighted to announce the results of the third quarter for 2021, demonstrating a third successive profitable quarter for the company, all within 2021. With the subsidiary units bearing significant conversion from their pipeline generation, this achievement is magnified further when considering many initiatives were conceived during remote or virtual engagements. Targeting investment in our operating expenditure has begun to yield significant return in both the short and long term for CYBER1, with increases in technical headcount benefitting our service capabilities. We are also hugely excited to include Cyber Security South Africa (CSSA) and Cyber Security Africa Distribution (CSAD) into our reporting, following the 50% acquisition of the companies as announced on the 31st of May. Both Managing Directors in Toni Bowker & Martin Britz, bring with them significant cyber security expertise across Africa and further afield and I am excited to see how further collaboration within the group can be realised.
 
We now turn to the fourth quarter for the company, which is historically strong for CYBER1. The company is committed to rounding off what has been the most profitable year in CYBER1’s history, ensuring we have a strong and stable foundation to project forward into 2022.”
 
The report is attached to this press release and can be found on our website by visiting https://cyber1.com/investors/  and clicking on the Financial Report section.